The paper examined the legal regulation of credit cooperatives.

From the above work, we can conclude that the formation of a coherent and complete banking system is problematic without the possibility of a credit institution in the form of a consumer cooperative. However, the existing legal mechanisms so imperfect that it is not allowed to participate in the credit cooperative banking system.
Certain difficulties in the practical implementation issue a credit organization in the form of a consumer cooperative arise from attaching to the Law on Banks purpose of the credit institution as profit. As you know, the purpose of the credit cooperatives as nonprofit organizations is not profit, but to provide the best possible cheap credit and financial services to members of these cooperatives to develop their economic activities and improve living standards. Indication as to the Law on Banks profit as the goal of a credit institution will be created within a single banking system such credit institutions that are simultaneously a socially important institutions and activities which would be of a generally non-profit, non-market, social-oriented nature.
Thus, to allow the creation of a credit institution in the form of a consumer cooperative, in our opinion, it is necessary to amend Part 1 of Art. 1 of the Banking Act, stating it as follows:
Credit institution - a legal person who, in a special permission (license) of the Central Bank (the Bank) is authorized to conduct banking transactions contemplated hereby. A credit institution may be established in the form of a business entity or a consumer cooperative in the procedure established by this Federal Law and other legislative acts.